Contrary to conventional expectations, Dubai’s real estate market experiences a surge during Ramadan, as indicated by data from 2023 and 2024. Transaction volumes, sales values, and property prices have seen significant increases, positioning Ramadan as a peak period for property deals. In 2024, transactions rose by 39%, reaching 12,313, while sales values soared by 55% to AED 32.6 billion. Luxury properties witnessed remarkable price growth, with villa prices increasing by 10% to AED 9.85 million and townhouses rising by 22% to AED 3.11 million. Market dynamics suggest that exclusive Ramadan offers, motivated buyers, and strong investor confidence contribute to this trend. Forecasts for Ramadan 2025 indicate continued momentum, with transaction volumes projected to reach 13,500 and sales values expected to climb to AED 36 billion, reinforcing Dubai’s position as a global real estate hub.
Dubai’s Real Estate Market Thrives During Ramadan, Defying Expectations
Contrary to the traditional notion of slowed economic activity during Ramadan, Dubai’s real estate sector has exhibited remarkable growth, surpassing market predictions. Data from 2023 and 2024 reflect substantial increases in sales, property values, and investor confidence, reaffirming that Ramadan is an opportune period for real estate transactions.
Property prices have seen significant appreciation, with the average sales price climbing by 12% from AED 2.37 million in 2023 to AED 2.65 million in 2024. The luxury segment has also experienced notable growth, with villa prices rising by 10% to AED 9.85 million, while townhouses surged by 22% to AED 3.11 million. These figures underscore the persistent demand for high-end real estate in Dubai.
Additionally, the price per square foot rose from AED 1,507 in 2023 to AED 1,741 in 2024. Apartments were priced at AED 1,821 per square foot, while townhouses reached AED 1,169 per square foot, demonstrating a strong market performance and sustained investor interest, even during Ramadan.
The first two weeks of Ramadan 2024 witnessed heightened market activity, with 5,608 transactions recorded—an increase of 28% from the previous year. The total sales value surged by 38% to AED 14.8 billion. Early-season deals, exclusive promotions, and favorable financing options have played a key role in maintaining strong momentum from the beginning of the season. Motivated buyers in the market have further contributed to quick deal closures.
Experts predict continued expansion in Ramadan 2025, based on current trends and March 2024 performance. Forecasts suggest transaction volumes may reach 13,500, with total sales values expected to touch AED 36 billion. The average sales price is projected to increase to AED 2.7 million, while villa prices could hit AED 10 million. Price per square foot is estimated to rise to AED 1,750 for apartments and AED 1,200 for townhouses, highlighting the ongoing demand for premium residential properties. Dubai’s infrastructure advancements, international appeal, and investor-friendly environment are expected to drive yet another record-breaking Ramadan in 2025.
In summary, Ramadan continues to present a favorable window for property transactions, with sellers benefiting from heightened buyer activity and investors capitalizing on seasonal promotions before prices escalate further. As projections indicate sustained growth, Dubai strengthens its standing as a premier global investment destination. Instead of slowing down, the real estate sector thrives during Ramadan, reaffirming its position as a period of lucrative opportunities.
